SBI's operations disrupted in Kashmir valley due to floods

Banking operations in as many as 66 branches of State Bank of India in Kashmir valley were severely affected following heavy floods in Jammu and Kashmir where massive rescue operations are underway to help out trapped people.

With no communication link functioning with the branches in the valley, SBI is hoping to restore banking operations once the water level recedes.

"Banking operations in Srinagar are completely disrupted due to floods. We have 66 branches in the valley. Out of total branches, minimum of 60 are supposed to be closed, while there is no connectivity with rest of branches which are located on the outskirts, so we are not sure whether they are functioning," a senior official of SBI told PTI today.

SBI, which has 66 branches in the valley spread across 10 districts, generates total business of more than Rs 3,000 crore in Kashmir valley, he said.

The official said the banking operations could only be restored when water level recedes, adding that communication link could not be established with the affected branches.

"Unless flood water level drops, banking operations cannot be restarted. But we have a back up team in place there which will start working towards restoring operations as and when water level comes down," the official added.

As far as banking operations in Jammu is concerned, SBI official said banking operations were normal.

"One branch was affected in Udhampur area but that has also started functioning from today," he informed.

SBI has a network of 177 branches in Jammu and Kashmir.


Source : Economic Times